FTA pact raises India's imports from Japan, Malaysia

New Delhi: India’s imports from Japan, with which it implemented a comprehensive free trade agreement in 2011, increased by over 3 percent to $12.5 billion the last fiscal, Parliament was informed today.

Similarly, the country’s imports from Malaysia grew by 9 percent to $10.43 billion in 2012-13, from $9.55 billion during the previous fiscal.[caption id=“attachment_756161” align=“alignleft” width=“380”] Minister of State for Commerce & Industry, D Purandeswari. Image courtesy PIB [/caption]

India has implemented Comprehensive Economic Cooperation Agreement (CECA) with Malaysia in July 2011, Minister of State for Commerce and Industry D Purandeswari said in a written reply to Lok Sabha.

She also informed the House that India’s exports to Malaysia increased to $4.44 billion in 2012-13 from $3.97 billion during the previous fiscal.

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However, the country’s exports to Japan declined to $6.26 billion during the last fiscal, from $6.32 billion in 2011-12.

“In trade agreement negotiations, India is committed for a balanced and mutually beneficial outcome,” she said.

In a separate reply, she said that India and Australia are negotiating and the fifth round for the pact is likely to take place in this month.

PTI